Azerbaijan Maintains Macroeconomic Stability Amid Global Economic Risks: PM

Baku, The Gulf Observer: Azerbaijan has maintained macroeconomic and financial stability during the current year despite global economic risks, with key macroeconomic indicators remaining stable, Prime Minister Ali Asadov said during discussions at the Cabinet of Ministers.

The Prime Minister said that Azerbaijan had sustained overall economic growth despite lower production and growth rates in the oil and gas sector.

According to the figures presented during the discussions, Azerbaijan’s real Gross Domestic Product (GDP) grew by 1.2 percent in January–August 2026. Growth was supported by a 2.1 percent expansion in the non-oil and gas sector, while GDP in the oil and gas sector declined by 0.8 percent.

At the same time, capital investment in fixed assets increased by 10 percent during the reporting period, reflecting continued investment activity in the economy.

Prime Minister Asadov said Azerbaijan’s strategic foreign currency reserves currently stand at approximately $91 billion, nearly 20 times the country’s external public debt.

“As of September 1, our direct external public debt amounted to $4.5 billion, representing 5.6 percent of projected GDP,” he said.

The Prime Minister further noted that Azerbaijan recorded a foreign trade surplus of more than $10 billion during the first eight months of 2026.

The figures, he said, demonstrate the continued stability of Azerbaijan’s key macroeconomic indicators amid a challenging global economic environment.